ForexLive Asia FX news wrap: Gold gets its bling on, new high

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Monday 27 July 2020

Gold took out out its previous high of just over 1920 back in 2011 during the session here. Its been rising, with a minor setback in March 2020, since September 2018 and cracked a new high on a day that saw wider US dollar weakness pretty much across the board.

EUR took a look towards 1.1700 but has not managed to piece the round number, barrier option defence is the chatter to explain the top in place during the session here ahead of the figure. It does appear to be only a matter of time though. EUR was not the only gainer though, GBP, CAD, AUD and NZD are all higher against the dollar, even yen and CHF added points.

News and data flow was light. There were statements out of the White House earlier that agreement was edging closer for the next round of economic rescue stimulus. Otherwise news and data flow was relatively light, with little else of immediate impact to act as the catalyst for the USD move, it was a case of more of the same for the dollar.

As I post gold is still rising, above $1925 $1926.... 1928

Forex news for Asia tradingMonday 27 July 2020.

Other:

  • EUR/USD high today is its highest since September. 2018
  • USD/CHF low today is its lowest in 5 years


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